Nobel Prize
Prestigious awards for the greatest benefit to humankind.
The Nobel Prizes are overseen by the Nobel Foundation and awarded according to the principle of benefiting humanity the most. They were given for the first time in 1901, five years after Alfred Nobel died. Nobel’s will specified the original five fields: physics, chemistry, physiology or medicine, literature, and peace. In 1968, Sweden’s central bank, Sveriges Riksbank, created a sixth prize in Economic Sciences in Nobel’s memory. These prizes are considered the highest honors in their fields.
Except during events like war, all six prizes are awarded each year. Each winner, called a laureate, gets a green gold medal plated with 24-karat gold, a diploma, and a cash award. As of 2023, that award is 11,000,000 Swedish kronor, roughly US$1,035,000. A prize can be shared by no more than three people, though the Peace Prize may go to organizations with more than three members. Prizes are not given to people after death, but if a laureate dies after being chosen but before receiving the prize, it is still presented.
From 1901 to 2024, the five original prizes and the Economic Sciences prize (awarded since 1969) were given 627 times to 1,012 individuals and organizations. Five people and two organizations have won more than one Nobel Prize.
Alfred Nobel was born on 21 October 1833 in Stockholm, Sweden, into an engineering family. He worked as a chemist, engineer, and inventor. In 1894, he bought the Bofors iron and steel mill and turned it into a major weapons maker. He also invented ballistite, a precursor to smokeless military explosives like the British cordite. This led to a patent infringement lawsuit over cordite. Nobel became wealthy from his 355 inventions, most famously dynamite.
A popular story claims that in 1888, Nobel was shocked to read his own obituary in a French newspaper, titled “The Merchant of Death Is Dead.” It was actually his brother Ludvig who had died, making the obituary eight years early. The article reportedly upset Nobel and made him worry about his legacy, inspiring him to change his will. Historians cannot confirm this story, and some call it a myth.
Nobel died on 10 December 1896 in his villa in San Remo, Italy, from a cerebral hemorrhage. He was 63. He wrote several wills; the last was signed on 27 November 1895 at the Swedish–Norwegian Club in Paris. It surprised many by stating that his fortune should fund prizes for those who
- founded
- 1901 (first awarded)
- founder
- Alfred Nobel
- fields
- Physics, Chemistry, Physiology or Medicine, Literature, Peace, and Economic Sciences (since 1969)
- monetary_award
- 11,000,000 kr (approx. US$1,035,000 as of 2023)
- total_awards
- 627 times to 1,012 people and organisations (1901–2024)
- multiple_recipients
- 5 individuals and 2 organisations have received more than one Nobel Prize
Lore & Background
Alfred Nobel was born on 21 October 1833 in Stockholm, Sweden, into a family of engineers. He was a chemist, engineer, and inventor. In 1894, Nobel purchased the Bofors iron and steel mill, which he made into a major armaments manufacturer. Nobel also invented ballistite, a precursor to many smokeless military explosives. Nobel amassed a fortune during his lifetime, with most of his wealth coming from his 355 inventions, of which dynamite is the most famous. There is a popular story about how, in 1888, Nobel was astonished to read his own obituary, titled 'The Merchant of Death Is Dead', in a French newspaper. The article disconcerted Nobel and made him apprehensive about how he would be remembered, inspiring him to change his will. Historians have been unable to verify this story and some dismiss it as a myth. On 10 December 1896, Alfred Nobel died in his villa in San Remo, Italy, from a cerebral haemorrhage. He was 63 years old.
Reader's Guide
The Nobel Prizes were established by Alfred Nobel's last will, signed on 27 November 1895, which specified that his fortune be used to create prizes for those who confer the 'greatest benefit on mankind' in physics, chemistry, physiology or medicine, literature, and peace. Nobel bequeathed 94% of his total assets, 31 million SEK, to establish the five Nobel Prizes. The Nobel Foundation was founded on 29 June 1900 to manage the finances and administration of the prizes. The foundation is not involved in selecting laureates; that task falls to prize-awarding institutions: the Royal Swedish Academy of Sciences, the Nobel Assembly at Karolinska Institute, the Swedish Academy, and the Norwegian Nobel Committee. The prizes are widely regarded as the most prestigious in their fields. Except in extraordinary circumstances, all six prizes are given annually. Each laureate receives a green gold medal plated with 24 karat gold, a diploma, and a monetary award. No more than three individuals may share a prize, though the Peace Prize can be awarded to organisations of more than three people. Nobel Prizes are not awarded posthumously, but if a person is awarded and dies before receiving it, the prize is presented.
Did You Know?
- The Nobel Prizes were first awarded in 1901, marking the fifth anniversary of Alfred Nobel's death.
- Alfred Nobel bequeathed 94% of his total assets, 31 million SEK, to establish the five Nobel Prizes.
- The Nobel Foundation was founded as a private organisation on 29 June 1900.
- As of 2023, the Nobel Prize monetary award is 11,000,000 kr, equivalent to approximately US$1,035,000.
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